Please fast no plagiarism The following are selected ledger accounts of Brock, Inc, at December 31, 2022:CashInventory, 1/1/22Sales RevenueUnearned RevenuePurchasesSales DiscountsPurchase DiscountsAdvertising ExpenseAccounting ServicesInsurance Expense (office)Rent Expense (office)Delivery ExpenseSalaries (office)Salaries (sales)Inventory, 12/31/22185,000650,0004,275,000117,0002,786,00034,00027,00069,00033,00024,00093,00054,000346,000284,000686,000REQUIRED:Purchase ReturnsSales returnsFreight-InAccounts ReceivableSales CommissionsTelephone Exp(sales)Utilities Exp (office)Miscellaneous ExpRent RevenueDepreciation (office)Depreciation (sales)Casualty LossInterest ExpenseCommon StockBrock's income tax rate on all items is 20%. There were 100,000 shares of common stockoutstanding during 2022.Prepare a multi-step income statement for Brock, Inc. for 2022 inproper form.15,00079,00072,000142,50083,00017,00032,0008,000240,00048,00036,00070,000176,000500,000

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Description: Please fast no plagiarism The following are selected ledger accounts of Brock, Inc, at December 31, 2022:CashInventory, 1/1/22Sales RevenueUnearned RevenuePurchasesSales DiscountsPurchase DiscountsAdvertising ExpenseAccounting ServicesInsurance Expen

A multi step income statement is prepared by the company to help users in assessing the financial…

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The following are selected ledger accounts of Brock, Inc, at December 31, 2022: Cash Inventory, 1/1/22 Sales Revenue Unearned Revenue Purchases Sales Discounts Purchase Discounts Advertising Expense Accounting Services Insurance Expense (office) Rent Expense (office) Delivery Expense Salaries (office) Salaries (sales) Inventory, 12/31/22 185,000 650,000 4,275,000 117,000 2,786,000 34,000 27,000 69,000 33,000 24,000 93,000 54,000 REQUIRED: 346,000 284,000 686,000 Purchase Returns Sales returns Freight-In Accounts Receivable Sales Commissions Telephone Exp(sales) Utilities Exp (office) Miscellaneous Exp Rent Revenue Depreciation (office) Depreciation (sales) Casualty Loss Interest Expense Common Stock Brock's income tax rate on all items is 20%. There were 100,000 shares of common stock outstanding during 2022. Prepare a multi-step income statement for Brock, Inc. for 2022 in proper form 15,000 79,000 72,000 142,500 83,000 17,000 32,000 8,000 240,000 48,000 36,000 70,000 176,000 500,000

The following are selected ledger accounts of Brock, Inc, at December 31, 2022: Cash Inventory, 1/1/22 Sales Revenue Unearned Revenue Purchases Sales Discounts Purchase Discounts Advertising Expense Accounting Services Insurance Expense (office) Rent Expense (office) Delivery Expense Salaries (office) Salaries (sales) Inventory, 12/31/22 185,000 650,000 4,275,000 117,000 2,786,000 34,000 27,000 69,000 33,000 24,000 93,000 54,000 REQUIRED: 346,000 284,000 686,000 Purchase Returns Sales returns Freight-In Accounts Receivable Sales Commissions Telephone Exp(sales) Utilities Exp (office) Miscellaneous Exp Rent Revenue Depreciation (office) Depreciation (sales) Casualty Loss Interest Expense Common Stock Brock's income tax rate on all items is 20%. There were 100,000 shares of common stock outstanding during 2022. Prepare a multi-step income statement for Brock, Inc. for 2022 in proper form 15,000 79,000 72,000 142,500 83,000 17,000 32,000 8,000 240,000 48,000 36,000 70,000 176,000 500,000

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter14: Activities Required In Completing A Quality Audit

Section: Chapter Questions

Problem 65RSCQ

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Required Information [The following information applies to the questions displayed below.] On January 1, 2021, the general ledger of ACME Fireworks includes the following sccount balances: Accounts Debit Credit $ 27,100 Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipnent Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2822) 5e, 200 $ 6,200 22, B00 66, 800 25, e00 3,5ee 30,5ee 70, e00 55,e00 25,100 Common Stock Retained Earnings Totals $190,300 $198,300 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $12,e0e. The cards are redeenable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $167,88e. January 15 Firework sales for the first half of the month total $155,e0e. All of these sales are on account. The cost of the units sold is $83,88e. January 23 Receive $127,480 from custoners on accounts receivable. January 25 Pay $11e,eee to…
The following are selected ledger accounts of Oriole Corporation at December 31, 2025. Cash Inventory Sales revenue Unearned sales revenue Purchases Sales discounts Purchase discounts Selling expenses Accounting and legal services Insurance expense (office) Advertising expense Delivery expense Depreciation expense (office equipment) Depreciation expense (sales equipment) $236,800 684,800 5,472,000 149,760 3,566,080 43,520 34,560 88,320 42,240 30,720 69,120 119,040 61,440 46,080 Salaries and wages expense (sales) Salaries and wages expense (office) Purchase returns Sales returns and allowances Freight-in Accounts receivable Sales commissions Telephone and Internet expense (sales) Utilities expense (office) Miscellaneous office expenses Rent revenue Casualty loss (before tax) Interest expense Common stock ($10 par) $363,520 442,880 19,200 101,120 92,160 182,400 106,240 21,760 40,960 10,240 307,200 89,600 225,620 683,750 Oriole's effective tax rate on all items is 20%. A physical…
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The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company. Additional information from Dux’s accounting records is provided also. DUX COMPANYComparative Balance SheetsDecember 31, 2021 and 2020($ in thousands) 2021 2020 Assets Cash $ 111.0 $ 33.0 Accounts receivable 61.0 63.0 Less: Allowance for uncollectible accounts (6.0 ) (5.0 ) Dividends receivable 16.0 15.0 Inventory 68.0 63.0 Long-term investment 28.0 23.0 Land 83.0 40.0 Buildings and equipment 173.0 263.0 Less: Accumulated depreciation (9.0 ) (115.0 ) $ 525.0 $ 380.0 Liabilities Accounts payable $ 26.0 $ 33.0 Salaries payable 15.0 18.0 Interest payable 17.0 15.0 Income tax payable 20.0 21.0 Notes payable 43.0 0 Bonds payable 94.0…
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